Spanish property market ‘back to pre-pandemic activity levels’

Recently released figures confirm a situation that many of those involved in the Sotogrande property sector ‘on the ground’ will have already guessed: property transaction activity across Spain has now returned to the level it was at prior to the emergence of COVID-19. 

That’s great news for would-be investors, eager to understand just how hot a prospect Sotogrande property remains in 2021, as the world gradually continues its recovery from the coronavirus crisis.

The data from Spain’s property registrars show that the number of sales and purchases registered in May of this year was a mere 1.1% below that reported for the same month in 2019. 

An encouraging picture for prospective investors in Spanish property 

Some 92,987 transactions were registered during the month, the registrars revealed, with the figures being above those for May 2019 in six of the 17 regions of Spain. 

When the May statistics are compared to those of a year ago – when the COVID-19 outbreak was raging across Europe – a stark difference is evident. Just 37,809 transactions were recorded during that month, and while comparisons between then and May 2021 may seem relatively meaningless due to the dramatic impact of the coronavirus, it nonetheless means there was a 146% jump in transactions in the space of one year. 

A similar pattern of return to pre-COVID “normality” can be observed in the figures for mortgage transactions. The total of 45,404 mortgage loans registered during May this year is just 3.8% shy of the figure for two years earlier. 

Sotogrande set to become an even more attractive destination for buyers 

While the exact reasons for wishing to acquire Sotogrande property may vary from one aspiring buyer to the next, there can be no doubt about the fundamentals: this is a highly exclusive area of Andalucía, offering a rewarding lifestyle and historically known for excellent house-price appreciation. 

As many people who dream of relocating from their present abode seek desirable destinations away from major cities in the aftermath of the coronavirus crisis, buying a property in the prestigious development that is Sotogrande has arguably become an even more sensible move. 

Contact our knowledgeable and experienced Sotogrande property specialists at BM Sotogrande today, and we would be delighted to help you realise your ambitions when it comes to buying on the Costa del Sol. Reach out to us by phone or email, or visit us in person at our Cádiz office.